ECERDC Mission To Xiamen Deemed Successful

9/10/2010 — BERNAMA
The East Coast Economic Region Development Council’s (ECERDC) investment mission to Xiamen, China, has impressed investors there on the abundant opportunities waiting to be tapped within the economic corridor.
Describing the mission as successful, ECERDC council member Tan Sri Lee Shin Cheng said the visit to Xiamen was a success based on the good response.
He said the investment mission saw Chinese investors showing strong interest for specific projects, especially tourism, natural gas and agriculture.
“We have created an awareness among the Chinese investors in providing them with information on the potential of doing businesses at ECER,” Lee told reporters on conclusion of the investment mission.
Lee led the ECERDC investment to Xiamen from September 7-11.
“We have just begun to seed. It will take some time for our initiative to bear fruit. This investment mission is timely as China is encouraging its investors to do so overseas,” said Lee, who is also the Executive Chairman of IOI Group.
Also present at the press conference were ECERDC Chief Executive Officer, Datuk Jebasingam Issace John and Terengganu State Executive Councillor, Toh Chin Yaw.
Lee pointed out that ECER has created a good investment environment, which is competitive and easy to do business.
He said the ECERDC is ready to receive and facilitate investors from China,keen to invest in the ECER.
ECER, which covers the states of Kelantan, Terengganu, Pahang and the district of Mersing, is offering a comprehensive package for investors such as opportunities to invest in a diverse range of industries with attractive fiscal and non-fiscal incentives.
It also offers a competitive cost of doing business, good physical infrastructure, abundant land and natural resources as well as quality human capital.
Lee said advantages such as a conducive business environment, political stability, disaster free zone and easy accessibility, are all plus points in attracting the Chinese investors.
He also strongly believes that the investment mission would benefit not only ECER but also the country.
Throughout the investment mission, he said there were meetings held with the Governors of Henan, Anhui and Fujian provinces, as well as business meetings with the Committee of ChongQing City.
Lee said ECERDC also organised a business matching symposium with businessmen in China, in conjunction with the 14th China International Fair for Investment and Trade (CIFIT 2010).
ECERDC also signed a Memorandum of Understanding (MoU) with Xiamen Zhong Seng Oil & Grains Co Ltd to undertake palm oil downstream production activities in ECER.
Under the MoU, the ECERDC will act as a facilitator to ensure a smooth and successful implementation of projects undertaken by Xiamen Zhong Seng in ECER.
Xiamen Zhong Seng is a major edible vegetable oil manufacturer in China.
Meanwhile, Jebasingam said Lee’s presence helped open doors and create an impact for the ECERDC mission.
“We are ready to receive the investors from China as well as facilitate and provide them support. Hopefully, our efforts here for the last few days will bear fruit.
“Lee’s presence here also made a lot of difference because he originates from this region (Xiamen),” he added.